In Short

A round-up of other commercial property news in brief

€5m site in 2007 for €1m

A SITE for nine apartments at the junction of Leeson Street and Appian Way in Dublin 6, which was bought for €5 million in 2007, is back on the market with a guide price of over €1 million.

The site is owned by John Ronan, a son of Treasury Holdings director Johnny Ronan, and Shane Whelan, son of Limerick developer Pat Whelan.

The planning permission provides for nine two-bedroom apartments, including a duplex penthouse and two further duplex units on the ground floor. There will also be basement car-parking.

€37.67 per sq m for industrial

A SUBSTANTIAL industrial and distribution building owned by the Jacob Fruitfield Food Group at Belgard Road in Tallaght, Co Dublin, has come on the letting market through William Harvey.

The owners are prepared to sub-divide, refurbish or expand the facility with sizes available from 4,500sq m (48,438sq ft) up to 36,000sq m (387,500sq ft).

The buildings stand on 13 acres and are available at the competitive rent of €37.67 per sq m (€3.50 per sq ft) on an “as is” basis.

Investment levels up in Europe

THE AVERAGE quarterly investment volume over the last four quarters across Europe rose by 12 per cent from €15.4 billion to €17.2 billion, maintaining the growth momentum over Q4 of 2009, according to a new report from DTZ.

Michele Jackson of DTZ Sherry FitzGerald says that Irish owners are also taking advantage of UK yield compression to trade properties. Investors reportedly active in the last six months include Cosgraves, Mick Whelan, Goodbody, Joe O’Reilly, Avestus, Bank of Ireland Private Banking and BOI Asset Management.

Ms Jackson said the agency had acquired a significant portfolio in the UK for Irish clients.

Suite let at €139 per sq m

DTZ SHERRY FitzGerald has let an office suite in The Plaza at Parkwest Business Park off the Nangor Road in Dublin 12 to Eurgi Ltd which provides software solutions for the insurance industry.

The suite of 242sq m (2,608sq ft) has been let at €139 per sq m (€13 per sq ft). David Bennett of DTZ acted for the landlord.